Chicago, Jan. 25 – Marfrig Global Foods SA issued bonds subsidiary MARB BondCo plc issued $1.5 billion of 3.95% bonds due 2031 (BB-/BB), according to a notice to the market.
Demand during pricing was 4.5 times higher than the offer amount.
The notes are guaranteed by Marfrig, NBM US Holdings, Marfrig Holdings (Europe) BV and Marfrig Overseas Ltd.
The company is using the new notes to extend its debt profile and reduce the cost of the company’s capital structure.
The notes will be used to fund the tender offer of the company’s 7% notes due 2024 and the 6 7/8% notes due 2025.
Marfrig Global Foods is a Sao Paulo-based food processing company.
| Issuer: | MARB BondCo plc
|
| Guarantors: | Marfrig Global Foods SA, NBM US Holdings, Marfrig Holdings (Europe) BV and Marfrig Overseas Ltd.
|
| Amount: | $1.5 billion
|
| Maturity: | 2031
|
| Securities: | Bonds
|
| Coupon: | 3.95%
|
| Pricing date: | Jan. 14
|
| Ratings: | S&P: BB-
|
| Fitch: | BB
|
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